Carswell
Athabasca Basin, Saskatchewan, Canada

The Carswell property consists of 7,552 hectares (18,661 acres) located in the Athabasca Basin, one of the most prolific uranium regions in the world.

Logan Resources acquired the property in 2004. The Company optioned the property to ESO Uranium Ltd. (ESO-TSX-V) in December 2005. ESO has the option to earn an 80% interest in the property. ESO has been actively exploring and drilling the property.

Two of the eight holes from the preliminary drill program intersected uranium mineralization.

Drill Hole CLU-01 intersected 0.46% U3O8 over 1.5 metres from 174.0 to 174.5 metres.

Drill Hole CLU-07 intersected two zones of mineralization. One zone intersected 0.17% U3O8 over 7 metres from 153.0 to 160.0 metres, which included a one-metre section of 0.82% U3O8. The second zone contained 0.20% U3O8 over 2.0 metres from 175.0 to 177.0 metres.

The program provided valuable structural and lithological information that helped identify a virtually untested uranium structure and further defined the model. Logan's option partner has traced that structure along surface for 700 metres. This structure represents a prime target for a continued drill program.